Silver Nanoparticles Market Size, Share & Trends Analysis Report By Application (Electronics & Electrical, Healthcare, Food & Beverages, Textiles, Others), By Region, And Segment Forecasts, 2024 - 2030

Market Size & Trends

 “2030 global silver nanoparticles market value to reach USD 4.53 billion”

The global silver nanoparticles market size was valued at USD 2.68 billion in 2023 and is projected to grow at a CAGR of 7.5% from 2024 to 2030. Silver nanoparticles have witnessed a substantial increase in market growth due to various significant factors including rising demand for antimicrobial applications. Their distinctive features, such as high electrical conductivity and optical properties, make them well-suited for combating bacteria and other harmful microorganisms. Moreover, the electronics industry has a significant influence on market expansion.

Silver nanoparticles are essential for the development of silver paste, conductive inks, and silver-coated wires used in electronic devices. As the electronics sector continues to grow, the demand for these nanoparticles is anticipated to rise. Furthermore, an increase in the need for silver nanoparticles for antimicrobial purposes and a higher demand from the electronics industry is expected to propel the market growth in the coming years. In addition, there is a growing need from the pharmaceutical sector due to its applications in implant technology, biomarkers, tissue engineering, biosensors, nanomedicine & nanorobots and image enhancement devices.

Application Insights

The healthcare segment dominated the market with a revenue share of 34.9% in 2023. The increasing demand for silver nanoparticles in healthcare is attributed to their unique properties, such as biocompatibility, antimicrobial activity, and biodegradability. Silver nanoparticles have been identified to exhibit excellent antimicrobial activity against a wide range of microorganisms, including viruses, bacteria, and fungi. This property makes them an attractive solution for wound care, surgical implants and medical devices, thereby driving demand in the healthcare sector. Silver nanoparticles are biocompatible and biodegradable, which reduces the risk of adverse reactions and ensures their safe use in medical applications. Silver nanoparticles have been used in wound care products, such as dressings, and creams, to accelerate wound healing and reduce the risk of infection.

The electronics & electrical segment is expected to grow at a CAGR of 7.9% during the forecast period. This is attributed to the unique properties of silver nanoparticles, which makes them an ideal material for various electronic devices and applications. The electrical conductivity of these nanoparticles makes them highly suitable for various applications, including conductive inks, silver paste, and silver-coated wires. These properties facilitate efficient current flow and significantly improve the performance of electronic components. In addition, their exceptional thermal conductivity ensures effective dissipation of heat, which is essential for maintaining optimal operating temperatures in electronic devices. Furthermore, silver nanoparticles have corrosion resistance, durability and reliability of electrical connections.

Regional Insights

North America dominated the market with a revenue share of 39.0 % in 2023. It is attributable to the North American electronics sector which is expected to witness substantial growth due to the rising popularity of wearable devices, smartphones, and smart gadgets. Furthermore, as the emphasis on infection control strengthens and chronic wounds become more prevalent, the healthcare industry in North America is expected to experience a surge in demand for silver nanoparticles.

U.S. Silver Nanoparticles Market Trends

The U.S. dominated the North America silver nanoparticles market with a share of 66.3% in 2023. This is due to strong demand from the electronics industry and the growing healthcare sector. The U.S. is at the forefront of nanotechnology research and development, with numerous institutions and companies investing heavily in the field, driving innovation and growth in the silver nanoparticles market.

Europe Silver Nanoparticles Market Trends

The silver nanoparticles market in Europe is projected to experience a CAGR of 6.5% over the forecast period. This growth can be attributed to increasing research & development activities, technological advancement, growing demand from the textile industry, electronic industry and increasing applications in healthcare. European Union is taking initiatives to promote the use of nanotechnology, which is expected to drive the growth of the silver nanoparticles market.

The UK is projected to witness noteworthy growth in Europe silver nanoparticle market, primarily propelled by the rising demand for silver nanoparticles in industries like electronics, healthcare, and textiles. Factors such as government regulations, the increasing need for handheld consumer electronic devices, the implementation of work-from-home policies, and the growing awareness regarding hygiene are expected to drive the market's expansion.

Germany has identified substantial growth in silver nanoparticles market in Europe. This owes to technological advancement, increasing demand for electronic devices, research and development in healthcare and nanotechnology. The use of silver nanoparticles in medicine development and electronic devices is driving market growth.

Asia Pacific Silver Nanoparticles Market Trends

Asia Pacific silver nanoparticles market is anticipated to witness the highest growth rate of 8.4%. The Asia Pacific region consists of developing countries that are investing in science and technology for their own economic and social empowerment which is leading to investment in research and development in this region.

China has identified significant growth in Asia Pacific silver nanoparticle market China has been actively investing in research and development. China is the manufacturing hub for the world for electricals & electronic devices and cosmetics industry. China exports most of its goods. Globally they have a major share of goods produced. Affordable production facilities in china are leading to the silver nanoparticle market.

The silver nanoparticles market in Australia is driven by the country’s significant unconventional gas resources, energy security concerns, economic growth, and government support. The country has been actively developing unconventional gas resources, with several major projects underway. The Australian government has also implemented regulations to ensure the safe and environmentally responsible development of hydraulic fracturing.

Key Silver Nanoparticles Company Insights

Some of the key companies in the silver nanoparticles market include Nanocs Inc., Nanoshel LLC; NanoHorizons Inc.; ANP CORPORATION. Key players are taking several strategic initiatives, such as innovation, mergers and acquisitions, and partnerships with other major companies. 

• Applied Nanotech, Inc. specializes in nanotechnology research and development. They focus on creating innovative solutions using nanomaterials. They collaborate with industry partners, government agencies and academic institutions to advance nanotechnology.

• American Elements focuses on ultra-high purity and nanoscale materials, they serve global manufacturers across various sectors including energy, electronics, aerospace, defense and green technology.

Recent Developments

• In January 2024, Applied Nanotech, Inc. announced that a newly constructed pilot plants has commissioned to ensure scale up production of company’s prominent NanoFence technology.

• In April 2024, The U.S. Department of Agriculture’s Agriculture Research Services (ARS) announced that ARS published a study which reveals the ability of cotton gin waste to generate silver nanoparticles in the presence of silver ions.

Silver Nanoparticles Market Report Scope

Global Silver Nanoparticles Market Report Segmentation  

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global silver nanoparticles market report based on application and region.

• Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030 )

  • Electronics & Electrical

  • Healthcare

  • Food & Beverages

  • Textiles

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030 )

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa (MEA)

    • Saudi Arabia